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Metaverse travel: RFOX aims to roll out a localized metaverse

By Carine Lee

03:10, 13 July 2022

Images of RFOX VALT through the eyes in VR
RFOX aims to roll out a localized metaverse – Photo: RFOX

RFOX aims to roll out localized metaverses with a metaverse passport to travel between them.

RFOX VALT offers people a chance to be a Lego master builder, as an opportunity to earn and create and play despite their geographical location.

The RFOX metaverse, also known as the VALT, consists of four themed quarters and with 25 premium SHOPs in each. Each quarter is targeted to bring e-commerce, NFT marketplace, immersive entertainment, and social events to the masses via VR and mobile.

The first and second quarters are art themed Callinova and gaming themed Arkamoto which were both completed in 2021. The other two quarters, Music and Science and Tech, will be up for auction soon.

RFOX is VALT’s primary payment method and will see all virtual assets and items exchanged for the RFOX token, which is based on the Ethereum blockchain (ETH).

ETH to US dollar

The choice of ETH was simple according to RFOX CEO Ben Fairbank, as he said it is the most commonly used blockchain with a lot of exposure in the market.

RFOX has a global VALT but it is looking to launch local versions.

ETH/USD

3,501.90 Price
+2.390% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

BTC/USD

66,793.35 Price
+4.300% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

DOGE/USD

0.13 Price
+4.870% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

SOL/USD

171.45 Price
+7.720% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

“Once we roll this out in Malaysia, for example, it changes completely because it would be personalized to Malaysia,” Fairbank said.

He added that the difference might be seen in languages on the signs, music, look and feel that is distinct to Malaysia, as it is localized.

RFOX offers VFOX tokens as rewards for the VALT ecosystem. VFOX holders will receive rewards in the form of RFOX.

The RFOX token is available on Ethereum, Binance Smart Chain (BNB), and WAX (WAXP) with more chain integrations to come.

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WAXP to US dollar

When asked whether it is possible to travel between different localized VALTs, Fairbank said there would be a metaverse passport to make travelling to VALTs around the world possible, and one can even record your travels and minting it as an NFT.

Markets in this article

ETH/USD
Ethereum / USD
3501.90 USD
81.68 +2.390%
BNB/USD
Binance Coin / USD
598.52 USD
21.02 +3.690%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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